Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High - Here's What Happened

Key Points

• Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high, trading as high as $529.99 during Monday's session, with the last trade recorded at $524.84.
• The company has recently increased its quarterly dividend from $0.60 to $0.75 per share, reflecting a 0.6% dividend yield.
• Analysts maintain a consensus rating of "Hold" for Elbit Systems, with a target price averaging $530.00.

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $529.99 and last traded at $524.84, with a volume of 20525 shares. The stock had previously closed at $514.99.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Elbit Systems in a report on Saturday, September 27th. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Elbit Systems from a "buy" rating to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Elbit Systems has a consensus rating of "Hold" and a consensus target price of $530.00.

Elbit Systems Stock Up 1.3%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The business has a 50 day simple moving average of $480.26 and a 200-day simple moving average of $435.82. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 58.97, a P/E/G ratio of 1.87 and a beta of 0.33.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. On average, equities analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's payout ratio is 22.70%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management purchased a new stake in Elbit Systems in the second quarter valued at $28,000. Larson Financial Group LLC acquired a new stake in shares of Elbit Systems during the 1st quarter worth about $29,000. Traub Capital Management LLC acquired a new position in Elbit Systems in the second quarter valued at about $31,000. SBI Securities Co. Ltd. boosted its stake in Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after buying an additional 107 shares during the period. Finally, Montag A & Associates Inc. purchased a new position in Elbit Systems during the second quarter worth about $68,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.